GAIL declares 20% interim dividend

State-run gas utility GAIL India Ltd today declared a 20 per cent (Rs 2 per share) interim dividend for the current fiscal.

"The Board of Directors of the company in a meeting today approved the payment of interim dividend to the shareholders of the company," a GAIL press statement said here.

The company has fixed December 29 as the 'record date' for the purpose of determining the eligibility of the members of the company for the interim dividend.

GAIL said it had paid a total dividend at the rate of 70 per cent on the enhanced paid-up share capital of the company for 2008-09 financial year.

"GAIL has a consistent track-record of dividend payment. The company has disbursed dividend of Rs 7119.55 crore (up to FY 2008-09) to the shareholders, including Government of India.

"This is more than five-and-half times the enhanced equity capital of Rs 1268.48 crore of the company," it said.

GAIL had last year issued one bonus share for two equity shares held.

During the first six months of the current year, GAIL registered a turnover of Rs 12,224 crore and net profit of Rs 1,369 crore. The gross margin during the same period was Rs 2,332 crore.